Boulder is the fourth most expensive college town to live in according to a report released by Coldwell Banker Real Estate LLC this week.
The first three most expensive cities were Palo Alto, California with Stanford University, Honolulu Hawaii with University of Hawaii, and Los Angeles with University of California.
The average home listing price in Boulder for 2010 was $791,877.
What makes Boulder properties so valuable? Location, location, location. Boulder is a beautiful city, with a view of the Flatirons, is home to the University of Colorado, Boulder, and is quickly becoming the hub for green technology in the country.
Parents are opting to buy instead of rent their students housing.
An interesting and surprising fact that their report found is that more than half of parents (64%) are actually buying homes for their college students instead of paying rent for apartments or dorm rooms. Parents are avoiding paying for higher rent, and instead taking advantage of the current low market values, low mortgage rates.
Many investors are still finding college towns to be attractive real estate investments. Why do college towns make a great place for investment properties? There is a steady supply of renters attracted by the University.
Football has an impact on the local real estate market.
Another interesting finding is that 24% of real estate professionals surveyed found that college football rankings can impact the local real estate market. Boulder has had a bit of a rough season, so college football success may not have a significant impact on the high value of Boulder homes. Still, football could be increasingly important, and profitable, for Boulder as the University leaves the Big 12 conference and joins the Pac-10.
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